Jemma Green, a Fellow at the Curtin University Sustainability Policy Institute in Western Australia, is also a representative of the Carbon Tracker Initiative, which has the stated aim of 'shifting the financial markets system towards supporting a low carbon future'.

Ms Green says the global market for coal is changing much more rapidly than many people, including Senator Leyonhjelm, recognise.

China, for the first time ever, announced it would peak its carbon emissions before or by 2030

Jemma Green, Curtin University Sustainability Policy Institute

"Fossil fuels will be around for some time to come but the risk and opportunity landscape has changed quite dramatically, especially given the China-US carbon deal announced two weeks ago.

"In that the United States said it intends to reduce its net greenhouse gas emissions by 26-28 per cent below their 2005 levels, which is basically double their current rate of carbon emission reductions.

"And China, for the first time ever, announced it would reach peak carbon emissions before, or by, 2030.